DUBLIN--(BUSINESS WIRE)--The "North America Smart Airport Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The North America Smart Airport Market is anticipated to grow at a CAGR of over 3% during the forecast period.
The number of people opting for air travel has increased in the past few years which has resulted in increased pressure on airports and airlines to opt for advanced systems that can enhance their ground operations and support their motive to reduce aircraft turnaround time.
Increasing automation of the system is expected to revolutionize the entire process flow architecture in airports. Airports are using technologies such as artificial intelligence (AI) and predictive analysis for a wide range of applications, from customer service to operational efficiency.
Key Market Trends
Increasing Air Passenger Traffic Necessitating the Adoption of Automated Technologies
The rapid growth of air traffic has necessitated airports to become highly adaptive, entrepreneurial, and proactive to address the ever-changing dynamics of the aviation industry in North America. With the airports developing into multi-nodal transportation hubs for passengers, efforts are being divested towards developing systems and processes that are digitally aware, interconnected, infused with intelligence, and easily accessed by all stakeholders. North American airports are integrating agile systems to predict capacity demand, provide enhanced passenger travel experience, improve operational process efficiency, improving staff productivity, and ensuring safety and security.
For instance, in October 2019, Miami Airport unveiled its new automated baggage handling system as part of its capital improvement program to streamline services. The new baggage handling system is worth around USD 324 million and features nearly nine miles of conveyor belt, 12 CTX 9800 explosives detection machines, and 102 mobile inspection tables (MIT) in an 18,000-square-foot baggage reconciliation area.
Also, as of September 2019, the Transportation Security Administration (TSA) was testing the enhanced Advance Imaging Technology body scanner system at the Las Vegas Airport. Several airports are determined to adopt similar automated systems to facilitate quick movement of passenger traffic. The emerging adoption patterns are anticipated to drive the development of smart airports in North America during the forecast period.
The North America smart airport market is highly competitive and is marked by the presence of many prominent players competing for the market share. The stringent safety and regulatory policies in the aviation sector are expected to restrict the entry of new players. Furthermore, the sales of technology-based platforms such as automated baggage handling systems and full-body scanners are primarily influenced by the prevalent economic conditions in dominant markets like the US.
Hence, during an economic downturn, purchases may be subjected to deferral or cancellation and lead to a relatively slower rate of adoption, which, in turn, can adversely affect the market dynamics. Moreover, business uncertainty may be enhanced by failures or delays in obtaining licenses and certifications for export, which can have an adverse effect on the businesses and operating results of market players. Furthermore, the diversification of geographical markets, in tandem with the product offerings, will be a key criterion for ensuring profitability and survival in the long run.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1.1 Security Systems
5.1.2 Communication Systems
5.1.3 Air/Ground Traffic Control
5.1.4 Passenger, Cargo and Baggage Control
5.1.5 Ground Handling Systems
5.2.1 United States
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amadeus IT Group
6.1.2 Cisco Systems Inc.
6.1.3 Honeywell International Inc.
6.1.4 IBM Corporation
6.1.5 Raytheon Technologies Corporation
6.1.6 Sabre Corporation
6.1.7 Siemens AG
6.1.9 Thales Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/r1987a